NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Forfeited Bitcoin Linked To Samourai Case Not Sold, Confirms White House Crypto Advisor
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Forfeited Bitcoin Linked To Samourai Case Not Sold, Confirms White House Crypto Advisor

Bitcoin Miner Reserves Close To May ATH As Bull Rally Continues

Keshav Verma
Keshav Verma
Last Updated: June 11, 2024 11:18 am
3 mins read
Bitcoin Bull

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

On-chain analysis shows Bitcoin miner reserves seem to be closing in on the ATH seen in May, as the BTC bull rally continues.

Bitcoin Miner Reserves Reach Close To May ATH Levels

As pointed out by a CryptoQuant post, the BTC miner reserves seem to be on the rise, and look to be close to the levels seen during the 9 May all-time-high (ATH).

The BTC miner reserves is an indicator that shows how many coins miners are holding in their wallets. More the value of this metric, less the selling pressure for miners in the market.

Related Reading | S2F Creator Beckons Beginning Of Second Leg Of Bitcoin Bull Run

On the other hand, there is some selling pressure among miners if the indicator is on the decline. A lack of selling pressure can be bullish for the crypto as miners generally sit on large piles of coins. If they start selling, the price can possibly immediately go down.

Now, here is how the Bitcoin miner reserves chart looks like right now:

Bitcoin Miner Reserves

The BTC miner reserves seem to be going up

As the above graph shows, while the current value of the indicator is still less than the one seen during the May ATH, it’s close enough.

This rise in the Bitcoin miner reserves could prove to be positive for the current Bitcoin bull rally as miners seem to be expecting higher prices still.

On the topic of miners, it looks like the BTC hashrate is also gradually moving up. The below chart highlights this trend.

Bitcoin Hashrate

The BTC hashrate slowly moves back up

After China’s crackdowns on Bitcoin mining, the global hashrate quickly went down. As miners have been relocating elsewhere, the hashrate is slowly recovering.

However, it looks like the hashrate is still below previous levels so it’s going to take some time before enough miners have restarted their operations.

BTC Price

At the time of writing, Bitcoin’s price floats around $45.8k, up 19% in the last 7 days. Over the past month, the cryptocurrency has accumulated 35% in gains.

Here is a chart that shows the trends in the price of the coin over the past 3 months:

Bitcoin Price Chart

Bitcoin wobbles around the $46k mark | Source: BTCUSD on TradingView

Over the past couple of weeks, BTC has enjoyed a sharp uptrend as the coin successfully breaks past $45k. At the moment, it looks like BTC is testing the $46k level as the crypto zig-zags around the price mark.

Related Reading | Three White Soldiers: The Signal That Shows Bitcoin Bulls Are Preparing For Battle

It’s unclear if BTC can keep the momentum up, or if it will drop down. But if the miner reserves are anything to consider, signs seem to be positive for the bull rally.

Featured image from Unsplash.com, charts from CryptoQuant.com, TradingView.com
Tweet123Share196ShareSend
Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

Read more

Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Net Taker Volume Finally Flips Positive — Why This Shift Matters

The price of Bitcoin began the new week on an exciting move to the upside. The premier cryptocurrency recorded a...

Opeyemi Sule 4 hours ago
XRP

Are XRP ETFs About To Act Like Banks? Expert Thinks So

US Senate debate over a bill called the Clarity Act has reignited discussion about XRP and other crypto products, and...

Christian Encila 6 hours ago
Dogecoin

Dogecoin RSI Just Entered Historical Oversold Levels Again, Will It Repeat 2021?

The Dogecoin Relative Strength Index (RSI) is said to have entered historical oversold levels. This has raised the possibility that...

Scott Matherson 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Holds Key Support As Weekend Liquidity Sets In — $98,200 And $107,500 In Focus

Godspower Owie 22 minutes ago
AVAX

AVAX Pushes Toward $18 As Key Resistance Looms: Analyst

Semilore Faleti 1 hour ago
Bitcoin

Saylor Defends Bitcoin Treasury Firms Amid Rising Criticism

Christian Encila 3 hours ago

Premium Sponsors

Press Releases

  • モネロが686ドルで史上最高値を更新、時価総額トップ11入り──1月に注目のアルトコインは?

    ...

    3 days ago
  • ChatGPTが分析:2026年の仮想通貨 1000倍候補はどれか

    ChatGPTが分析:2026年の仮想通貨...

    3 days ago
  • 新しい仮想通貨:2026年に注目すべき3銘柄、次に急騰するコインはどれか

    ...

    3 days ago
  • ドージコイン 今後:ミームコイン市場に投機売買が再び戻る

    ドージコイン...

    3 days ago
  • XRP価格予測:SECの暗号資産ルールに反発するリップル 今後、法的枠組みを突破できるか

    ...

    3 days ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.